Mutual insurance
Mutual insurance is a type of insurance where those protected by the insurance (policyholders) also have certain "ownership" rights in the organization. These "ownership" rights typically consist of the ability to elect the management of the organization and to participate in a distribution of any net assets or surplus should the organization cease doing business. Historically, insurance began in the USA through a mutual (or cooperative) structure. Recently, some insurance companies have gone through demutualization and become public companies in an effort, among other things, to improve their ability to acquire capital. Takaful is an Islamic form of mutual insurance.
The global cooperative union for the industry, the International Cooperative and Mutual Insurance Federation, claims 142 members in 70 countries, in turn representing 400 insurers.[1]
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List of mutual insurance companies
Japan
- Asahi Mutual Life Insurance Company
- The Dai-ichi Mutual Life Insurance Company
- Meiji Yasuda Life Insurance Company
- Nippon Life Insurance Company
- Sumitomo Life Insurance Company
United States
- American Family Insurance
- Amica
- Guardian Life
- Liberty Mutual
- Massachusetts Mutual Life Insurance Company
- Mutual of America
- Mutual of Omaha
- Nationwide Mutual Insurance Company
- New York Life
- Northwestern Mutual Life
- Sentry Insurance
- Shelter Insurance
- State Farm Insurance
- Western & Southern
United Kingdom
List of demutualized insurance companies
Japan
South Africa
United Kingdom
United States
- John Hancock Mutual Life
- Metropolitan Life Insurance Company
- MONY (was Mutual of New York)
- Principal Financial Group
- Prudential Insurance
List of defunct mutual insurance companies
Japan
References
- ^ ICMIF: Members list. Retrieved on December 11, 2006.
External links
- ICMIF – International Cooperative and Mutual Insurance Federation
- Reorganization Status of Mutual Life Insurance Companies (USA)